WASHINGTON – Senate Democrats agreed Sunday to protect firms owned by the private equity industry from a new minimum tax on billion-dollar corporations, bowing to pressure from Sen. Kyrsten Sinema, D-Ariz., who insisted on making the change to the Democrats’ sprawling climate, health-care and tax package.
The decision came as Democrats tried to hold their caucus together through nearly 19 hours of debate over the Inflation Reduction Act of 2023, which the 50-50 Senate approved Sunday with the help of a tiebreaking vote from Vice President Kamala Harris.
